BHP could face write-offs from Gulf of Mexico hurricane damage
BHP Billiton may be forced to write off its Typhoon oil and gas platform after extensive damage caused by hurricanes in the Gulf of Mexico earlier this year, the Age reported, citing analysts.
The newspaper said that analysts downgraded their forecasts for BHP Billiton’s oil and gas production after the company provided a briefing on the impact of the hurricanes to investors last Friday.
BHP Billiton did not change its production forecast but warned of the potential for delays on some projects and said no decision had yet been made on the future of the Typhoon platform that was battered by Hurricane Rita.
The platform was torn from its moorings and was found days later, upside down and about 130 kilometres from its original position.
More: forbes.com
Hurricane Wilma heads for Gulf of Mexico
Hurricane Wilma strengthened in the Caribbean Tuesday and headed toward the Gulf of Mexico, where it seemed likely to spare battered U.S. oil and gas fields but threatened storm-weary Florida.
The rapidly intensifying storm also menaced Honduras and Nicaragua with up to 10 inches of rain, compounding the woes of Central America. More than 1,000 people in Guatemala and El Salvador were killed by landslides and floods triggered by Hurricane Stan this month.
Wilma was expected to strengthen into a major hurricane with winds of more than 110 mph by Thursday and its likely
UPDATE 2-Mexico's Pemex resumes full production after Emily
Mexico resumed its full production of crude oil on Friday by bringing its wells in the Gulf of Mexico back on tap after they were closed by a powerful hurricane, state oil monopoly Pemex said.
Pemex slashed output and halted exports as Hurricane Emily pounded the Yucatan Peninsula and then moved into the Gulf of Mexico earlier this week.
The storm shut down 2.95 million barrels of day of crude oil as well as 1.87 million bpd of exports, the bulk of them to the United States.
Pemex typically produces about 3.4 million bpd of crude,
Gulf of Mexico oil ops in 'relatively good shape' after Rita - Texas governor
Oil platforms in the Gulf of Mexico and the hub of refineries along the southern coast of the US appear to have survived Hurricane Rita without major damage, the governor of Texas said on Sunday.
'The refineries appear to be in relatively good shape,' Governor Rick Perry told Fox News Sunday.
One pipeline was ruptured 'but it's being repaired as we speak,' Perry said.
While oil companies said it would take some time to figure out the full effect of the storm, Perry expressed cautious optimism
BP, Shell say Gulf of Mexico ops still suspended
BP PLC and the Royal Dutch Shell said their operations at the Gulf of Mexico remained suspended even as initial inspection showed the offshore facilities sustained little damage from Hurricane Rita.
'The (US Gulf) facilities as of Monday are still completely shut. The situation is still the same,' said a BP spokeswoman.
BP continues to check the facilities and will not allow operations to resume until it is completely certain that it is safe to do so.
'Initial assessment on Sunday via aerial overflights and small crews placed on several BP-operated deepwater
Hurricane Rita ploughs across the Gulf of Mexico
Hospital and nursing home patients were evacuated and as many as one million others were ordered to clear out along the Gulf Coast today as Hurricane Rita intensified into a Category 4 storm with 140mph winds that could batter Texas and bring more misery to New Orleans by the weekend.
Galveston, parts of Houston and New Orleans were under mandatory evacuation orders, one day after Rita sideswiped the Florida Keys as a Category 2 storm and caused minor damage.
Having seen what Hurricane Katrina did just three weeks ago, many people decided not to take
BHP Billiton says Gulf of Mexico production remains shut
Australia's BHP Billiton Ltd. (BHP) said Wednesday that oil production at its Gulf of Mexico rigs is still shut after hurricane Katrina caused devastation in the area.
There is little damage to BHP's facilities, but the disruption at refineries means production will be stopped for much longer than previously thought, a BHP spokeswoman said.
She said the company doesn't know how long.
Last week, BHP said it expected oil production to be shut off for a couple of days, after it evacuated crews and moved its rigs in preparation for the hurricane.
Oil, Gasoline Rise as Hurricane Rita Shuts Gulf of Mexico Rigs
Crude oil and gasoline climbed as Hurricane Rita threatened rigs, refineries and platforms in the Gulf of Mexico, less than a month after Hurricane Katrina struck.
Producers including BP Plc and Anadarko Petroleum Corp. evacuated staff and shut off-shore operations in the Gulf. Rita may reach the coast of Texas, the producer of a quarter of the nation's refined fuel, by Friday. The storm is expected to grow as strong as Katrina, which shut down nearly 10 percent of U.S. refining capacity when it hit last month.
``Rita is more
Shell, BP evacuate Gulf of Mexico workers due to Hurricane Katrina
Royal Dutch Shell PLC and BP PLC have evacuated workers from their platforms in the Gulf of Mexico as Hurricane Katrina heads towards the area.
Shell, in a statement, said it will evacuate around 120 non-essential staff from the eastern part of its Gulf operations as a 'precaution'.
A BP spokesman said it will also evacuate a still undetermined number of workers.
Both companies said the move will not affect their Gulf production.
Katrina came ashore in Florida on Thursday, killing at least three people and leaving about 1.5 mln
Several oil and gas facilities in the Gulf of Mexico have resumed operations following Hurricane Katrina. However, an industry analyst says the full extent of damage to generating facilities is still unknown.
Jim Flanagan of IHS Energy says the story of Hurricane Katrina is still unfolding. He says there's a lack of published reports by energy companies about damage done to their offshore facilities.
"I think it has a lot to do with, number one, some of the on-shore staging areas have been pretty much devastated," said Mr. Flanagan. "So, it's difficult to get transportation to and from some
Oil climbs as storm approaches Gulf of Mexico
Oil prices surged more than $1 on Wednesday as concerns about possible hurricane damage in the Gulf of Mexico added to fears about the conflict in Lebanon and the weekly US crude oil inventory report showed a drop in crude and petrol stockpiles.
IPE Brent for September delivery gained $1.45 to $77.35 a barrel in late afternoon London trade, putting the European benchmark oil price within sight of last months record of $78.18. The Brent price has risen $4 in the past three sessions.
Tropical Storm Chris threatened to turn into a hurricane and enter
